A&O Shearman represents CIP on EUR155 million HoldCo financing to fund MaxSolar's growth into a German IPP

The new facility replaces the HoldCo financing put in place in 2023, which supported MaxSolar's transition from a developer and EPC service provider towards becoming a large independent power producer (IPP) of renewable energy in Germany. Alongside the refinancing, it provides flexible capital to fund project capital expenditure as assets move through construction and to finance selected project acquisitions from MaxSolar's development platform.

Copenhagen Infrastructure Partners, founded in 2012, is a global fund manager and one of the most active providers of capital to the European energy transition. Through its funds, CIP invests in power generation (solar and wind), energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels, and carbon capture. The facility for MaxSolar is provided under CIP's Green Credit strategy, which invests in renewable energy projects and energy transition companies across OECD markets. Its participation reflects confidence in MaxSolar's platform execution capability and its positioning within the German market. 

MaxSolar GmbH is an integrated developer and operator of renewable energy, storage, heating and mobility infrastructure headquartered in Traunstein, Germany. With the new financing, the company will continue to take projects from development through construction and into long-term ownership, pairing generation with storage across the portfolio to capture more value from every MW it connects to the grid.

Dr. Jan-Hendrik Bode, debt finance partner at A&O Shearman, said: “Holdco financings provided by infrastructure credit funds are becoming an increasingly important component of the energy transition. For platforms evolving from project developers into independent power producers, they complement traditional project financing and provide the flexible capital needed to drive the next phase of growth. The transaction for CIP and MaxSolar is an excellent example of this trend, and we were delighted to support CIP throughout the process.”

The A&O Shearman team was led by partner Dr. Jan-Hendrik Bode (Debt Finance, Frankfurt). The core team advising on this transaction further comprised partner Dr. Heike Weber (Tax), senior associate Alan Markgraf, as well as associates Thorsten Lauer (both Debt Finance) and Dr. Janka Reinhardt (Tax, all Frankfurt).